Stocks
Boeing Stock Takes Hit Amid Analyst Downgrades and Mixed Outlook
Boeing's (NYSE:BA) stock took a hit on Tuesday after Jefferies Financial Group downgraded its price target from $295 to $265. Despite this, the firm maintains a 'buy' rating on the stock.
The move was part of a larger trend in which several analysts weighed in on Boeing's performance. Citigroup recently downgraded the company from 'buy' to 'sell', while JPMorgan Chase raised its price target from $270 to $290 and issued an 'overweight' rating.
Despite the mixed signals, Korean Air finalized a commitment for 103 Boeing aircraft valued at approximately $36.2 billion. This order is expected to provide significant revenue visibility for Boeing in the long term.